M
iami-Dade's condo market saw a surge in sales and dollar volume in October, driven by a record-breaking $33 million closing. The month's total sales reached $504 million, up from $438 million in September. Brokers closed 681 sales, an increase from 626 in September and 712 in August.
The median sale price was $390,000, with prices ranging from $77,000 to $33 million. The price per square foot varied from $72 to $4,964, with a median of $395. Unit PH56 at Echo Brickell led the sales with its $33 million closing after 272 days on the market.
The buyer, Robert Duggan and his partner Dr. Mahkam Zanganeh, purchased the unit for $2,982 per square foot from Greg Kiley. The sale surpassed September's priciest sale of $8.4 million at Oceana Key Biscayne. In contrast, Unit A4Q at Naranja Lakes in Homestead sold for $77,000, or $72 per square foot.
Notable sales included:
* Most Expensive: Echo Brickell, unit PH56, priced at $33 million and $2,982 psf
* Least Expensive: Naranja Lakes, unit A4Q, priced at $77,000 and $72 psf
* Highest Price Per Square Foot: Continuum on South Beach, unit 1006, priced at $12,450,000 and $4,964 psf
* Lowest Price Per Square Foot: Naranja Lakes, unit A4Q, priced at $77,000 and $72 psf
